The Official Gazette published on Thursday a presidential decree, No 38 for the year 2016, approving a loan from Kuwait to Egypt worth 30 million dinars for a mega electricity project. Egypt's government and the Kuwait Fund for Arab Economic Development had signed an agreement in Cairo on November 11, 2015, for funding the Egyptian-Saudi electricity linkage project. Egypt is one of the countries participanting in the Gulf electricity linkage project, which will be part of a comprehensive Arab electricity linkage project. The project costs up to $1.6 billion, with Egypt contributing $610 million, and aims to establish the infrastructure of an electicity grid linking Arab countries for electricity trade and a common electricity market. The trial run of the electricity linkage project between Saudi Arabia and Egypt is expected to start in mid-July 2017, according to a statement by Mohamed al-Yamany, a member of the Egyptian-Saudi committee responsible for electricity and energy subsidies.

Source: Egypt Independent March 23, 2017 15:11 UTC